|
|
|
MIRA INFORM REPORT
|
Report No. : |
506844 |
|
Report Date : |
02.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
APPASWAMY REAL ESTATES LIMITED |
|
|
|
|
Registered
Office : |
No. 3, Mangesh Street, T Nagar, Chennai – 600017, Tamilnadu |
|
Tel. No.: |
91-44-24346333 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2017 |
|
|
|
|
Date of
Incorporation : |
21.12.1987 |
|
|
|
|
Com. Reg. No.: |
18-015210 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
INR 58.229 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U70101TN1987PLC015210 |
|
|
|
|
IEC No.: [Import-Export Code No.] |
Not Divulged |
|
|
|
|
GSTN : [Goods & Service Tax
Registration No.] |
Not Divulged |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCA8397H |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject
is engaged in real estate and property development business. [Registered activity and also
confirmed by management] |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Maximum Credit Limit : |
USD 5000000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Appaswamy Real Estates Limited is engaged in real estate business. The
company was incorporated in the year 1987 and is based in Madras, Tamilnadu.
It is an established company having good track record. The company possesses sound financial profile marked by healthy
networth base along with low debt level of the company. The company also derives strength from its long standing track record
of business operation. However, the rating strength is partially offset by decline in revenue
and profit of the company during FY 2017 and highly competitive real estate
business. Trade relations are reported as fair. Business is active. Payment
terms are seems to be slow but correct. The company can be considered for business dealings at usual trade
terms and condition. |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2018.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 02.05.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Kartik |
|
Designation : |
Admin Head |
|
Contact No.: |
91-9962941915 |
|
Date : |
30.04.2018 |
LOCATIONS
|
Registered Office : |
No. 3, Mangesh Street, T Nagar, Chennai – 600017, Tamilnadu, India |
|
Tel. No.: |
91-44-24346333 / 24349090
|
|
Fax No.: |
91-44-24343627 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
Locality : |
Commercial |
DIRECTORS
AS ON 31.03.2018
|
Name : |
Mr. Ravi Appasamy Charubala |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
No 3 Mangesh Street, T Nagar, Chennai –
600017, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
19.09.1968 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
25.08.2010 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00776374 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Appaswamy |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
No 3, Mangesh Street, T Nagar, Chennai –
600017, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
14.02.2014 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00789960 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Ramnad Ramanathan Krishnan |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Vignesh Villa, No.12, Tiger Varadachari
Road, 1st Street, Kalakshetra Colony, Besant Nagar, Chennai – 600090, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
04.02.2016 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00803128 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Krishnan Ramani |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
Flat No. 4, 95/ 96, Royapetah High Road,
Mylapore, Chennai – 600004, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
20.04.1943 |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
04.02.2016 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01337793 |
||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Sathyanarayanan |
||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||
|
Address : |
12 Janaki Ammal Street, West Mamnalam,
Chennai – 600033, Tamilnadu, India |
||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
08.01.2016 |
||||||||||||||||||||||||||||||||||||
|
DIN No.: |
07397547 |
||||||||||||||||||||||||||||||||||||
|
Other Directorship:
|
|||||||||||||||||||||||||||||||||||||
KEY EXECUTIVES
|
Name : |
Priti Venkatesan |
|
Designation : |
Company Secretary |
|
Address : |
No 5, 3rd East Street, R.E. Nagar, Porur,
Chennai – 600116, Tamilnadu, India |
|
Date of Appointment : |
01.03.2015 |
|
PAN No.: |
AWSPP0647G |
MAJOR SHAREHOLDERS
AS ON 31.03.2017
|
Names of Shareholders |
No. of Shares |
|
Ravi Appasamy |
855105 |
|
South Eastern Exports Private Limited |
161310 |
|
SAS Hotels and Enterprises Limited |
3960000 |
|
SAS Realtors Private Limited |
500 |
|
Ravi Appasamy – HUF |
545000 |
|
Charubala Ravi Appasamy |
600 |
|
Rohit Ravi |
300420 |
|
|
|
|
Total |
5822935 |
Equity Share Break up (Percentage of Total Equity)
AS ON 28.09.2017
|
Category |
Percentage |
|
Promoters [Individual/Hindu Undivided
Family (Indian)] |
19.85 |
|
Promoters [Bodies
corporate] |
70.79 |
|
Promoters [Others
(HUF)] |
9.36 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject
is engaged in real estate and property development business. [Registered activity and also
confirmed by management] |
||||
|
|
|
||||
|
Products / Services
: |
|
||||
|
|
|
||||
|
Brand Names : |
Not Available |
||||
|
|
|
||||
|
Agencies Held : |
Not Available |
||||
|
|
|
||||
|
Exports : |
Not Divulged |
||||
|
|
|
||||
|
Imports : |
Not Divulged |
||||
|
|
|
||||
|
Terms : |
|
||||
|
Selling : |
Advance Payment, Cheque |
||||
|
|
|
||||
|
Purchasing : |
Advance Payment, Cheque |
PRODUCTION STATUS – (NOT AVAILABLE)
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
50 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
RBL Bank Limited, New No.56, Old No.105, G N
Chetty Road, T Nagar, Chennai – 600017, Tamilnadu, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
Auditors : |
|
|
Name : |
Srihari and Company Chartered Accountants |
|
Address : |
Old #29, New #6, Coats Road, T Nagar, Chennai – 600017, Tamilnadu, India |
|
PAN No.: |
ANUPS1499K |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Holding Company : |
· SAS Hotels and Enterprises Limited |
|
|
|
|
Associates : |
· Ambattur Apparels Private Limited · SAS Hotels (India) Limited · SAS Housing and Infrastructure Limited |
CAPITAL STRUCTURE
AS ON 28.09.2017
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6000000 |
Equity Shares |
INR 10/- each |
INR 60.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5822935 |
Equity Shares |
INR 10/- each |
INR 58.229 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in INR Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
58.229 |
58.229 |
58.229 |
|
(b) Reserves & Surplus |
1697.612 |
1566.036 |
1334.160 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
1755.841 |
1624.265 |
1392.389 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) Long-term borrowings |
279.451 |
564.383 |
439.999 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
3.862 |
3.314 |
2.955 |
|
Total Non-current
Liabilities (3) |
283.313 |
567.697 |
442.954 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
98.485 |
63.896 |
0.000 |
|
(b) Trade
payables |
93.940 |
91.189 |
90.852 |
|
(c) Other
current liabilities |
4961.609 |
4438.054 |
4584.861 |
|
(d) Short-term
provisions |
71.268 |
122.308 |
67.555 |
|
Total Current
Liabilities (4) |
5225.302 |
4715.447 |
4743.268 |
|
|
|
|
|
|
TOTAL |
7264.456 |
6907.409 |
6578.611 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
14.487 |
18.210 |
22.194 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
404.720 |
404.720 |
400.730 |
|
(c) Deferred tax assets (net) |
0.897 |
0.439 |
0.000 |
|
(d)
Long-term Loan and Advances |
33.506 |
23.300 |
0.000 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
453.610 |
446.669 |
422.924 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
546.029 |
546.022 |
0.000 |
|
(b)
Inventories |
3303.314 |
2832.622 |
2896.374 |
|
(c) Trade
receivables |
1.027 |
0.000 |
0.000 |
|
(d) Cash
and cash equivalents |
49.617 |
144.454 |
172.136 |
|
(e)
Short-term loans and advances |
2905.956 |
2931.667 |
3083.833 |
|
(f) Other
current assets |
4.903 |
5.975 |
3.344 |
|
Total
Current Assets |
6810.846 |
6460.740 |
6155.687 |
|
|
|
|
|
|
TOTAL |
7264.456 |
6907.409 |
6578.611 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
|
SALES |
|
|
|
|
|
Total
Revenue from operations |
876.281 |
2492.707 |
2235.649 |
|
|
Other Income |
1.638 |
5.495 |
11.559 |
|
|
TOTAL |
877.919 |
2498.202 |
2247.208 |
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
Cost of Materials
Consumed |
946.198 |
1855.760 |
1736.950 |
|
|
Changes in inventories of
finished goods, work-in-progress and Stock-in-Trade |
(470.692) |
63.752 |
82.412 |
|
|
Employee benefit expense |
70.173 |
65.955 |
64.197 |
|
|
CSR expenditure |
0.450 |
0.500 |
0.000 |
|
|
Other expenses |
76.237 |
101.831 |
89.811 |
|
|
TOTAL |
622.366 |
2087.798 |
1973.370 |
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE INTEREST, TAX,
DEPRECIATION AND AMORTISATION |
255.553 |
410.404 |
273.838 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
48.756 |
52.016 |
69.443 |
|
|
|
|
|
|
|
|
PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
206.797 |
358.388 |
204.395 |
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
4.588 |
4.815 |
4.628 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
202.209 |
353.573 |
199.767 |
|
|
|
|
|
|
|
Less |
TAX |
70.633 |
121.697 |
67.384 |
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
131.576 |
231.876 |
132.383 |
|
|
|
|
|
|
|
|
Earnings / (Loss) Per
Share (INR) |
22.60 |
39.82 |
22.73 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
|
Net cash flows from (used in) operations |
156.444 |
331.752 |
(27.566) |
|
Net cash flows from (used in) operating activities |
200.297 |
374.056 |
34.478 |
KEY
RATIOS
EFFICIENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Average Collection Days (Sundry
Debtors / Income * 365 Days) |
0.43 |
0.00 |
0.00 |
|
|
|
|
|
|
Account Receivables Turnover (Income / Sundry Debtors) |
853.24 |
0.00 |
0.00 |
|
|
|
|
|
|
Average Payment Days (Sundry Creditors / Purchases * 365 Days) |
36.24 |
17.94 |
19.09 |
|
|
|
|
|
|
Inventory Turnover (Operating Income / Inventories) |
0.08 |
0.14 |
0.09 |
|
|
|
|
|
|
Asset Turnover (Operating Income / Net Fixed Assets) |
17.64 |
22.54 |
12.34 |
LEVERAGE RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Debt Ratio ((Borrowing
+ Current Liabilities) / Total Assets) |
0.76 |
0.76 |
0.79 |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability / Networth) |
0.22 |
0.39 |
0.32 |
|
|
|
|
|
|
Current Liabilities to Networth (Current Liabilities / Net Worth) |
2.98 |
2.90 |
3.41 |
|
|
|
|
|
|
Fixed Assets to Networth (Net Fixed Assets / Networth) |
0.01 |
0.01 |
0.02 |
|
|
|
|
|
|
Interest Coverage Ratio (PBIT / Financial Charges) |
5.24 |
7.89 |
3.94 |
PROFITABILITY RATIOS
|
PARTICULARS |
|
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
PAT to Sales ((PAT
/ Sales) * 100) |
% |
15.02 |
9.30 |
5.92 |
|
|
|
|
|
|
|
Return on Total Assets ((PAT / Total Assets) * 100) |
% |
1.81 |
3.36 |
2.01 |
|
|
|
|
|
|
|
Return on Investment (ROI) ((PAT / Networth) * 100) |
% |
7.49 |
14.28 |
9.51 |
SOLVENCY RATIOS
|
PARTICULARS |
31.03.2017 |
31.03.2016 |
31.03.2015 |
|
Current Ratio (Current
Assets / Current Liabilities) |
1.30 |
1.37 |
1.30 |
|
|
|
|
|
|
Quick Ratio ((Current Assets – Inventories) / Current
Liabilities) |
0.67 |
0.77 |
0.69 |
|
|
|
|
|
|
G-Score Ratio Financial (Networth / Total Assets) |
0.24 |
0.24 |
0.21 |
|
|
|
|
|
|
G-Score Ratio Debt (Debts / Equity Capital) |
6.49 |
10.79 |
7.56 |
|
|
|
|
|
|
G-Score Ratio Liquidity (Total Current Assets / Total Current Liabilities) |
1.30 |
1.37 |
1.30 |
Total
Liability = Short-term Debt + Long-term Debt + Current Maturities of Long-term
debts
FINANCIAL ANALYSIS
[all figures are
in INR Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Share Capital |
58.229 |
58.229 |
58.229 |
|
Reserves & Surplus |
1334.160 |
1566.036 |
1697.612 |
|
Net
worth |
1392.389 |
1624.265 |
1755.841 |
|
|
|
|
|
|
Long-term borrowings |
439.999 |
564.383 |
279.451 |
|
Short term borrowings |
0.000 |
63.896 |
98.485 |
|
Total
borrowings |
439.999 |
628.279 |
377.936 |
|
Debt/Equity
ratio |
0.316 |
0.387 |
0.215 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2235.649 |
2492.707 |
876.281 |
|
|
|
11.498 |
(64.846) |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2015 |
31.03.2016 |
31.03.2017 |
|
|
(INR
In Million) |
(INR
In Million) |
(INR
In Million) |
|
Sales |
2235.649 |
2492.707 |
876.281 |
|
Profit/ (Loss) |
132.383 |
231.876 |
131.576 |
|
|
5.92
% |
9.30
% |
15.02
% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
Yes |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
Yes |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOANS:
|
PARTICULARS |
31.03.2017 INR In Million |
31.03.2016 INR In Million |
|
LONG TERM BORROWINGS |
|
|
|
Loans and advances from related parties |
0.000 |
10.000 |
|
|
|
|
|
Total |
0.000 |
10.000 |
INDEX OF CHARGES:
|
S No |
SRN |
Charge Id |
Charge Holder Name |
Date of Creation |
Date of Modification |
Date of Satisfaction |
Amount |
Address |
|
1 |
G37872561 |
100082022 |
RBL BANK LIMITED |
17/02/2017 |
- |
- |
450000000.0 |
NEW NO.56, OLD NO.105, G N CHETTY ROAD, T NAGAR CHENNAI TN600017IN |
|
2 |
C81606600 |
10618921 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
28/12/2015 |
13/01/2016 |
- |
500000000.0 |
RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARG MUMBAI MH400020IN |
|
3 |
C30162838 |
10526503 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
11/04/2014 |
- |
- |
700000000.0 |
RAMON HOUSE 169BACKBAY RECLAMATIONH T PAREKH MARG MUMBAI MH400020IN |
|
4 |
C42853762 |
10192919 |
ING VYSYA BANK LIMITED |
12/11/2009 |
04/12/2014 |
- |
190000000.0 |
# 5, VENKATANARAYANA ROAD, T'NAGAR, CHENNAI TN600017IN |
|
5 |
Y10423596 |
90300669 |
THE VYSYA BANK LTD |
03/02/1997 |
14/08/2002 |
- |
5000000.0 |
SOUTH MAMBALAM BRANCH NO. 1; SOUTH USMAN ROAD; T. NAGAR CHENNAI TN600017IN |
|
6 |
B61782876 |
10093508 |
HOUSING DEVELOPMENT FINANCE CORPORATION LIMITED |
30/01/2008 |
- |
01/11/2012 |
300000000.0 |
RAMON HOUSE 169BACKBAY RECLAMATION H T PAREKH MARG MUMBAI MH400020IN |
FIXED ASSETS:
·
Land
·
Building
·
Plant and Machinery
·
Furniture and Fixture
·
Office Equipment
·
Computer
·
Vehicles
PRESS RELEASE:
CHENNAI-BASED
APPASWAMY REAL ESTATE ACQUIRES ADYAR VILLA LAND FOR INR 4000.000 MILLION
APRIL 13, 2018
It was meant to be
a big ticket entry by a Chinese player into the Chennai real estate
market. Country Garden, one of China's top three township developers, was
a few months ago on the verge of acquiring a 60-ground (1.44 lakh sqft) parcel
of land that was once part of the landmark Adyar Villa in
Kotturpuram.
As the Chinese
major dithered, however, Chennai-based Appaswamy Real Estate quietly
moved in and clinched the deal for INR 4000.000 million with property developer TVH in one of the largest realty
transactions in the city in recent times.
The land, a premium
residential locality nestled in a sweeping river bend, was originally part of the
18-acre Adyar Villa, owned by industrialist A C Muthiah’s family before TVH in
2009 purchased it for nearly INR 1200.000
million.
'Deal
done, big move by Appaswamy'
"It’s a done
deal and a big move by Appaswamy builders," an industry source
told TOI. "The sale price is sweet for TVH too, since Country Garden had
offered a cash component of around Rs200 to Rs220 crore, with TVH as a local
partner for development. The higher premium Appaswamy offered should be seen
from the context of approvals being in place and enhanced road width fetching
higher FSI."
Being a premium
location, the acquirers are likely to promote high-end luxury apartments.
Appaswamy Real Estate CEO T S S Krishnan declined to comment.
"More than a
year ago, Country Garden was very bullish on the Indian realty market and had
entered into around 10 MoUs for large land parcels in premium locations across
Indian cities. However, over the pastfew months, ithas suddenly gone slow on
most MoUs, including the one with TVH in Chennai," the industry source
said.
Soon after buying
the land in 2009, TVH, owned by former Tamil Nadu transport minister and DMK
strongman K N Nehru’s family, wanted to promote a multistorey residential
project. The frontage of the land parcel did not meet the criteria required for
such a project, sothe promoter’s clout with the then DMK government helped to
get the road widened. But the project never took off and, as a double blow, the
DMK was voted out in the 2011 assembly election and failed to return to power
in the 2016 election.
D Govardan
and Rajesh Chandramouli, Economic Times, Chennai
APPASWAMY REAL
ESTATES INKS INR 4000.000 MILLION DEAL WITH TVH
APRIL 13, 2018
Chennai-headquartered
Appaswamy Real Estates has concluded a INR 4000.000 million deal with True Value
Homes (TVH), another city-based developer, over a land parcel measuring 60
grounds at Kotturpuram, close to the Adyar.
Officials from
Appaswamy Real Estates and TVH could not be reached for comment. Three
different sources in the real estate sector in Chennai, who are aware of this
development, said the deal had been concluded and Piramal Fund would advance
over INR 2000.000 million to Appaswamy Real Estates to fund the venture.
It is learnt that
Appaswamy Real Estates plans to come up with a high-end residential project at
the site. An 18-storey building is what they are planning, sources added.
Over the last few
years, several developers eyed this land parcel, which was once part of the
18-acre Adyar Villa owned by SPIC promoter A.C. Muthiah’s family. TVH bought
this land in 2009 in an INR 1200.000 million deal.
Earlier, Country
Garden, one of China’s top township developers, evinced interest in the deal.
“The deal did not happen because Country Garden offered to pay a certain amount
upfront and the balance after the realisation of the projects,” said another
source in the real estate sector. According to property consultants, Chennai in
the last two years has seen places such as Kotturpuram, Anna Nagar and Egmore
emerge in the luxury real estate space.
The localities are
witnessing the highest growth because they address the city’s new-found need
for affordable luxury.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist organization
or whom notice had been received that all financial transactions involving
their assets have been blocked or convicted, found guilty or against whom a
judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or with
designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling shareholders,
director, officer or employee of the company is a government official or a
family member or close business associate of a Government official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
INR |
|
US Dollar |
1 |
INR 66.78 |
|
|
1 |
INR 92.89 |
|
Euro |
1 |
INR 80.74 |
INFORMATION DETAILS
|
Information
Gathered by : |
RUB |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
SCORE FACTORS
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
This score serves as a reference to assess
SC’s credit risk and to set the amount of credit to be extended. It is calculated
from a composite of weighted scores obtained from each of the major sections of
this report. The assessed factors are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.